One thing you should not miss are the corned beed sandwiches...oh my they are SOOO good! But share it with someone because they are big.
If you don't go crazy with your betting or gambling you can have a pretty good time on the cheap here. We met my aunt, uncle, parents and some friends here. The admission was $2.00. We didn't do anything but bet on the horse races and eat. We chatted, ate and looked at the horses between races. We stuck to $2.00 bets. Parking cost us about $5.00. I even won several times. (YEA, for me...lol). All in all we had a good time visiting, eating and betting. No one went crazy or spent tons of money. But it was lots of fun.
Here is some interesting history about Oaklawn.

2705 Central Av
Hot Springs, Ar. 71901
501-623-4411